NT7 vs NT8 T&S Not The Same

[Segwin]

I noticed that the T&S feature in NT8 is not the same as in NT7. You can refer to the two screen shots.

In NT7 it would print only what was hitting, either BID or ASK. In NT8 it is printing both. I tried to run NT7 and NT8 at the same time but it would appear that FXCM only allows one connection unless I'm doing something wrong.

Thanks,

Terence

[NinjaTrader_Brett]

Segwin,

Try right clicking on the NinjaTrader 8 T&S and in the 'Prices' menu double check only 'last' or 'bid' is checked. If multiple are checked then you would get both ask and bid updates with NinjaTrader 8.

[Segwin]

Thank you Brett. Should have seen that myself. Sorry for the trouble.

Terence

[Segwin]

I still don't think NT8 is performing the same as NT7 with regards to T&S.

I can't run NT8 and NT7 side by side live for some reason. If NT7 is running on FXCM and I try to start NT8 they fight for the connection.

I wanted to show a side by side comparison.

[NinjaTrader_Brett]

I ran both for a while and got similar values so couldn't see what you might be worried about. Note you'll never see 100% the same since FXCM is a pulling API. Meaning two NT7 instances will never match, same with comparing NT7 and NT8. Since the rate of which you get updates could be different since you don't get all bid/ask updates only 'snapshots'. FXCM API handles all that under the hood.

[Segwin]

Hi Brett,

While I was running NT8 with time and sales most of the prints were at bid (red) on all three currencies. When I switched back to NT7 the EURUSD and USDJPY were printing about a 50/50 between bid & ask. GBPUSD were printing mostly bid.

Just helps with a general feel of order flow.

Thank you,

Terence.

[Segwin]

Attached are two screen shots from NT8 and NT7 T&S for the EUR.

I couldn't run both side by side but shut NT8 down and started NT7 quickly to show the print on the T&S window.

You can see the difference between NT8 and NT7. In NT8 under Prices I have last ticked.

Hope this helps.

Thanks,

Terence

EDIT: Added NT7 T&S properties.

[NinjaTrader_Brett]

This is the tenth pip vs pip setting. In NT7 go to Control Center > Tools > Options > Data Tab > Quote currencies in and set it to tenth pip. Now your quote will match NT8.

The blue and red your seeing now in NT7 is actually misleading since you're not seeing the entire granularity of the FX quote so your getting a confirmation that its 'at ask' or 'at bid' but that is just because the granularity is not there. It actually is not.

-Brett

[Segwin]

This is the tenth pip vs pip setting. In NT7 go to Control Center > Tools > Options > Data Tab > Quote currencies in and set it to tenth pip. Now your quote will match NT8.

The blue and red your seeing now in NT7 is actually misleading since you're not seeing the entire granularity of the FX quote so your getting a confirmation that its 'at ask' or 'at bid' but that is just because the granularity is not there. It actually is not.

-Brett

Thanks Brett.

With regards to the blue and red in NT7 it seemed fairly accurate. An example is when you would get a news release, and the currency would start tanking, all of a sudden you weren't seeing any blue printing, it would be all red with the block alert going off a lot. In a sideways market the red and blue print was pretty much equal. I've stared at the T&S in NT7 enough to trust it in helping me in my trade. Now in NT8 with it printing red all the time it doesn't mean anything.

I'm truly not trying to be a PITA however having NT8 print the same as NT7 with FXCM sure would be nice. If you could submit my vote I would appreciate it.

Thanks for listening.

Terence

[NinjaTrader_Brett]

Sorry to be the bearer of news but I think the correlation is just purely by chance. I can't advise you how to trade but the data you're using is not correlated to any actual sound underlying concept or data point. I think we've worked through that now at this point and now have a better understanding of whats going on here in the FX space and why its different as it comes to volume and bid/ask analysis versus comparing to forex or stocks.

You technically can change the tick size in NT8 to be smaller to remove the extra granularity you see but then I feel your're headed in the wrong direction since you're actually removing extra data that is valid.

As of now everything is working as expected in NT8 and NT7, don't see anything which I could take action on to change or submit votes to change. Let me know if still unclear.